Noah Holdings Limited (NYSE:NOAH) is one of the best performers on the stock market today. At current price of $28.41, the shares have already added 1.15 points (4.22% higher) from its previous close of $27.26. Should you buy or avoid them? The stock sets an active trading volume day with a reported 103607 contracts so far this session. NOAH shares had a relatively better volume day versus average trading capacity of 445.15 thousand shares, but with a 19.83 million float and a -1.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NOAH stock indicates that the average analyst price target is $40.82 per share. This means the stock has a potential increase of 43.68% from where the NOAH share price has been trading recently which is between $27.06 and $27.64. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $¥228.65. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $¥350.14.
During the recent trading session for Noah Holdings Limited (NYSE:NOAH), the company witnessed their stock rise $0.43 over a week and tumble down $-2.18 from the price 20 days ago. When compared to their established 52-week high of $60.14, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/03/19. The recent low of $26.48 stood for a -52.76% since 08/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.89 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for NOAH is set at $¥307.99, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Noah Holdings Limited, the two-week RSI stands at 47.51. This figure suggests that NOAH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NOAH readings is similarly very revealing as it has a stochastic reading of 26.9% at this stage. This figure means that NOAH share price today is being overbought.
Technical chart claims that Noah Holdings Limited (NOAH) would settle between $27.58/share to $27.9/share level. However, if the stock price goes below the $27 mark, then the market for Noah Holdings Limited becomes much weaker. If that happens, the stock price might even plunge as low as $26.74 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup raised their recommendation on shares of NOAH from Neutral to Buy in their opinion released on September 16. JP Morgan analysts bumped their rating on Noah Holdings Limited (NYSE:NOAH) stock from Neutral to Overweight in a separate flash note issued to investors on May 29. Analysts at Citigroup lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to April 17.
NOAH equity has an average rating of 2.36, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Noah Holdings Limited (NYSE:NOAH) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NOAH stock price is currently trading at 10.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 13.3 while for the average stock in the same group, the multiple is 15.5. Noah Holdings Limited current P/B ratio of 1.7 means it is trading at a premium against its industry’s 1.3.